TORONTO, Dec. 15, 2023 /CNW/ - Northwest Healthcare Properties Real Estate Investment Trust (the "REIT" or "Northwest") (TSX: NWH.UN) announced today that the Trustees of the REIT have declared a distribution of $0.03 per unit for the month of December 2023, representing $0.36 per unit on an annualized basis. The distribution will be payable on January 15, 2024, to unitholders of record as at December 29, 2023.
The REIT also announced today that commencing with the December 2023 distribution, Unitholders can elect to participate in the REIT's Distribution Reinvestment Plan ("DRIP"), which had previously been suspended on June 7, 2023. Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase trust units and will also receive bonus units equal to 3% of their monthly cash distributions. Unitholders that were previously enrolled in the DRIP at the time of its suspension and remain enrolled at the time of its reinstatement will automatically resume participation in the DRIP. Complete details of the DRIP are available under the "Investors" section of the REIT's website located at www.nwhreit.com.
About Northwest Healthcare Properties Real Estate Investment Trust
Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (Northwest) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at September 30, 2023, of interests in a diversified portfolio of 229 income-producing properties and 18.2 million square feet of gross leasable area located throughout major markets in Canada, the United States, Brazil, Europe, Australia, and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 300 employees in ten offices in eight countries to serve as a long-term real estate partner to leading healthcare operators.
This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. These forward-looking statements include statements regarding payment of the December distribution and reinstatement of the DRIP. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.
SOURCE NorthWest Healthcare Properties Real Estate Investment Trust
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